Analyst: Global Apple Watch Pre-orders Have Surpassed 2.3 Million Units

There's still some doubt that the smartwatch category will stand the test of time, though whether it does or not, Apple's likely going to cash in on the craze while it can. In a note to investors, KGI Securities analyst Ming-Chi Kuo estimated that Apple Watch pre-orders around the world have topped 2.3 million units, most of which are of the Apple Watch Sport.

No big surprise there, as the Apple Watch Sport represents the lowest cost of entry into Apple's recently launched wearables, with prices starting at $349. If you bump up to the Apple Watch, pricing jumps to $549 and above, while the Apple Watch Edition ranges in cost from $10,000 to $17,000. Add an AppleCare+ plan to the latter and you're looking at an additional $1,500.

Apple Watch Edition

"We estimate production of Apple Watch around 2.3 million units in March-May. Mass production of Apple Watch began in March and will likely reach 2.3 million by end of May," Kuo said. "Considering that most consumers who pre-ordered will not get the device until June, we estimate global pre-orders of over 2.3 million units, with Apple Watch Sport, Apple Watch and Apple Watch Edition representing a respective order allocation of 85 percent, 15 percent, and less than 1 percent."

That 2.3 million figure is just the beginning (it's also more than double what research firm Slice Intelligence estimated). Kuo goes on to state that Apple's planning to expand its supply chains with a target goal of producing two to three million Apple Watch devices each month. The only hurdle there (well, besides ongoing demand) is the vibrator mechanism that allows Apple Watch to give haptic feedback. Turns out it's not so easy to cram the necessary bits and pieces into such a small space.